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May 2, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Cornelia, Business Loans > Community Bank & Trust Cornelia Business Loans > Power Laundries, Family And Commercial Loan | ||||
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I Need a Loan in Nashville, Tennessee
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Borrowing Money for Drycleaning and Laundry ServicesWith these loans for drycleaning and laundry services, the SBA guarantees the lender that the loan will be repaid. This drycleaning and laundry services loan for $190,000 was given to a Tennessee entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nashville, Tennessee was able to borrow $190,000 from Community Bank & Trust. The SBA made the loan possible by guaranteeing $142,500 of this Tennessee small business loan. SBA Loan Borrower COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL SBA Loan Lender COMMUNITY BANK & TRUST This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7211 - Power Laundries, Family and Commercial NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 9/12/2001 Loan Approval Gross Amount $190,000 Loan Approval from the SBA Of the total $190,000 loan amount, the SBA guaranteed $142,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Nashville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: SBA 7A Lenders in Cornelia, Georgia
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